You need $70,000 in today's You need $70,000 in today's buying power 6 years from now. You can...

You need $70,000 in today's buying power 6 years from now. You can earn 2% APR in real terms on your investments. How much do you have to invest, in nominal terms (the same amount each year), starting next year for 5 years, to just meet your needs, if you expect inflation to be 4% per year?

{eq}\bigcirc {/eq} $8,018

{eq}\bigcirc {/eq} $4,245

{eq}\bigcirc {/eq} $14,788

{eq}\bigcirc {/eq} $15,539